-Outlook Government today reduced minimum export price (MEP) of onion to USD 150 a tonne from USD 350 to boost shipments and check sharp fall in domestic prices that has led to farmers protest in producing states. This is the third downward revision of onion MEP, the benchmark price below which the commodity can not be exported, this month. On December 16, the Centre had reduced it to USD 800 a tonne...

-Outlook A surge in food prices ripped common man's pockets as the UPA government paid for its failure in the assembly polls in four states and may feel the heat in next year's general elections as well if it is not controlled. Prices of kitchen essentials such as onions spiked to a record Rs 100 per kg and tomatoes touched Rs 80 in some states during the year, pushing the food inflation...

-The Indian Express Food inflation owes largely to agricultural markets being regulated by outdated laws. The RBI governor, Raghuram Rajan, has a difficult task this week. He has to decide whether to keep interest rates constant or raise them - bearing in mind the possible taper of the US Fed's bond buying programme, a decline in industrial production and a rise in inflation. The sharp increase in consumer price-based inflation, to more...

-The Telegraph New Delhi: The Supreme Court today ruled that once the government reduces the prices of essential drugs, the new rates would come into immediate effect and companies cannot continue selling at earlier prices. A bench of Justices R.M. Lodha and Kurien Joseph rejected the arguments of multinational giant GlaxoSmithKline Pharma that companies are entitled to sell drugs at old rates for 15 days to dispose off stocks. According to the bench,...

-The Indian Express The Supreme Court on Monday ruled that drug manufacturers and retailers cannot sell medicines at higher prices mentioned on the label of the boxes if the government notifies a lower rate. They must implement the price fixed under the Drugs (Prices Control) Order (DPCO) within 15 days from the date of notification. The bench of Justices R M Lodha and Kurian Joseph rejected the argument that the revised prices...